All Topics / Finance / Virgin Home Loans

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  • Profile photo of DirtCheapDirtCheap
    Member
    @dirtcheap
    Join Date: 2004
    Post Count: 14
    April 4, 2006 - 7:34 am

    I see that Virgin Home Loans has hit the market.
    I have a Virgin credit card (pink in colour. My wife got to chose. I do get some funny looks! ) which is actually run by Westpac.

    I assume that the home loan side is also a similar arrangement. ie. a Big Financial institution runs the loans that are branded Virgin.

    Does anyone know the details??

    Tony

    Profile photo of MortgagemanMortgageman
    Participant
    @mortgageman
    Join Date: 2004
    Post Count: 164
    April 4, 2006 - 11:21 pm

    Hi Tony,

    Virgin’s Home Loan business is through a joint venture with Macquarie Bank. The structure is quite different than the relationship with Westpac. Macquarie raises the money and Virgin manages the loan (although Macquarie also has a signficant stake in Virgin Money itself). The products are basic with no fees but also no real added features. I would say they are ok in terms of basic loans, but certainly not the best in the market.

    Regards,

    Cameron Perry
    Director
    Perry Financial Strategies
    Level 13, 30 Collins St
    Melbourne VIC 3000
    Ph (03) 9662 1999
    Fax (03) 9662 2044
    http://www.perryfinance.com

Viewing 2 posts - 1 through 2 (of 2 total)

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